And what an utterly historic result it is; the first African- American President of the United States. It cannot be overstated how important this outcome is, both for America and the rest of the world. Forty years after the assassination of Dr. Martin Luther King - a man who had dared to believe in equal rights regardless of ethnicity - the country which he believed wouldn’t see a black President in a hundred years has achieved the seemingly impossible.

On Election Night itself, the outcome was actually pretty cut and dry. The only time McCain was winning was right at the beginning, with two states to Obama’s one.

By late evening however, when the second lot of polls had closed and Obama had won both Pennsylvania and Ohio (both states which McCain had to win in order to stand a chance), the BBC commentary team in Washington was acting as though Obama had already won, although without rubber stamping it. Historian Simon Schama was urging host David Dimbleby to call the election then and there.

In order to win the candidates had to gather over 270 electoral votes, which are amassed depending on the population of each state. Texas for example has 34 votes, but the tiny state of Rhode Island only has 4. Under the Electoral College system it is possible for a candidate to get the majority of the popular vote, but still lose the election, as happened to Al Gore in 2000. Thankfully, this election had none of that drama. There was some indecision around 2.00am, when it was thought North Carolina might declare a tied vote, but a recount showed Obama with a comfortable lead of 10,000.

Running up the close of the California and Washington State polls at 4.00am, the BBC were again cogitating on how and when McCain would formally concede. It was fully expected that California would go to the Democrats, but when it actually happened, the atmosphere was just groundbreaking.

Even David Dimbleby, who was supposed to be remaining impartial, gave a little cheer. The huge crowds in Chicago’s Grant Park exploded with shouting, cheering and singing.

In Kenya, home to Obama’s father, there were spontaneous celebrations, with the President of Kenya declaring the day a national holiday. When McCain conceded twenty minutes later, it was very calm, dignified and remarkably bi-partisan.

Obama’s victory speech was the highlight of the night, and it was his opening statement that converted me. "If there is anyone out there who still doubts that America is a place where all things are possible; who still wonders if the dream of our founders is alive in our time; who still questions the power of our democracy, tonight is your answer."

I want to buy into that American Dream.